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Liquidity Crunch Clouds
Outlook for Italian-Thai

Investors trying to figure out the near-term outlook for Thai stocks may find disheartening clues in the prospects of infrastructure giant Italian-Thai Development Co.

The company's stock, like the broader market, has recently given back some of the huge gains sparked by the government's July decision to free up monetary policy by floating the baht. Italian-Thai's shares ended Tuesday at 74 baht ($2.29), off their late-July high of 92 baht but still well above their June low of 46 baht.